3 Reasons to Choose No Load Life Insurance

No load life insurance is a type of life insurance policy that has gained popularity in recent years. No load mutual funds became popular in the past and now, no load life insurance is gaining momentum as well. Here are a few reasons to consider choosing no load life insurance for your coverage.

1. No or Low Fees

No load life insurance offer the ability to skip out on the fees that are charged by normal whole life insurance providers. With a typical policy, part of your premium goes towards fees, part goes to the death benefit, and part goes to the cash value. With no load life insurance, you are eliminating or reducing the fees associated with maintaining the policy.

2. Lower Premiums

With a no load life insurance policy, you can actually lower your monthly premiums as a result of the lower fees. Anytime you can save money on premiums, it presents you with more flexibility in other areas of your financial life.

3. Build Cash Value Faster

Since your premium money is no longer going towards the administration cost, you can allocate more money to the cash value of the policy. With more money for them to invest, your cash value will grow at a much faster rate.

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